China lists record editions for the New Year

China lists record editions for the New Year

During this year's celebrations for the Chinese New Year, travel and expenditure in China New records and gave the government an encouraging thrust while she wants to boost the battered economy. According to Data from the Ministry for Culture and Tourism, which were published on Wednesday continued travel times that started on January 28th under a total of 501 million trips within China. This represents an increase of 5.9 % compared to the previous year. Expenditures for tourism rose by 7 % and reached 677 billion yuan ($ 93 billion) compared to the previous year.

For cross -border trips, an average of 1.795 million daily trips in and from China were made during the holidays, such as the National immigration authority that were published on Wednesday. This number was slightly above the average of 1.79 million daily trips in 2019, ahead of pandemic. The increase this year was largely driven by foreign visitors, whose figures increased by 22.9 % compared to 2024.

visa-free access and output on the occasion of the New Year's Festival

china started introducing visa-free access for numerous countries to promote tourism and boost consumption. "We are pleased to see that while China puts more countries on the list of visa-free states and the Visa transit policy is completely relaxed and improved, which Chinese New Year is becoming a worldwide festival," said the spokesman for the Chinese Ministry of Foreign Affairs, Lin Jian, during a Regular press conference on Wednesday. He added that the number of foreign tourists who visited China during the holidays had increased by 150 % compared to 2024 without naming the source of information.

renaissance in the cinemas

according to a disappointing again during the holidays during the holidays back to the cinemas. "With the holiday effect and the support of politics, sectors such as inbound tourism, film, household appliances and electronics showed a solid performance," said Citi analysts in a research note on Wednesday. During the holidays, record-breaking 187 million people visited the cinemas and raised sales to a new high of 9.5 billion yuan ($ 1.32 billion), so data published by the China Film Administration . At the top of the charts is the animated film “Nezha 2”, a continuation of the hits from 2019, and has developed into the most important film production ever in China, according to the state broadcasting CCTV .

economic challenges and perspectives

The second largest economy in the world still faces a number of challenges, from job uncertainty among the younger generation to dramatic declines in the real estate sector, which was once a cornerstone of the country's economic growth. China's head of state XI Jinping has declared the “active measures to promote domestic consumption” to the top priority, since the consumer and business mood is steamed.

Although the expenses during the celebrations for the Chinese New Year give the government officials a thrust of confidence, it remains uncertain whether this dynamic can be continued. "We should not overestimate the positive holiday data, since they could only represent the purchasing power after a weak year 2024," wrote the consumer analysis analysis analysis from HSBC in a research note on Thursday.

state support and International challenges

Part of the increase in cinema turnover can be attributed to the government's consuming measures that aim to stimulate the expenditure. The China Film Administration started a public subsidy campaign in December, while local governments such as Beijing and Guangdong offered cinema programs with voucher campaigns before the holidays. In order to promote expenses for consumer goods, the Ministry of Finance announced the assignment of 81 billion Yuan ($ 11.1 billion) for buyback programs for cars and household appliances, including rice cookers and washing machines.

International is also under immense pressure, in particular due to the recent introduction of a 10 %tax on all imports from the country to the USA through the Trump administration. Beijing reacted to this by a comprehensive package of economic

In a meeting of the State Council, the Chinese Prime Minister Li Qiang emphasized the need to maintain trust on Wednesday and to tackle the challenges of the internal economy, while at the same time it has to be prepared for the external challenges, as from state media reports .